January 24, 2018 1:00 am

Are you hoping to create a smart financial plan this year, but unsure where to start? Being realistic and accurate can ensure those budgets have long-term success, according to Senior CFP Board Ambassador Jill Schlesinger, CFP®.

To help, Schlesinger offered a list of financial goals to help people start creating a financial plan.

- Establish an emergency reserve fund of six to 12 months of living expenses

- Maximize retirement savings (the 2018 limit for 401(k)s, 403(b)s and 457 plans is $18,500 or $24,500 if you are over age 50; the limit for Traditional or Roth IRAs is $5,500 or $6,500 for those over age 50. If you are self-employed, the limits are higher.)

- Fund a 529-education fund (now expanded via the tax plan, to include private or parochial school for up to $10,000 a year in tuition and other expenses)

- Establish a general investment account to fund anything from a second home to an accelerated path to retirement